Swedbank AB Boosts Stock Holdings in Copart, Inc. $CPRT

Key Points

• Swedbank AB increased its stake in Copart, Inc. by 1.8% during Q2, owning 616,097 shares worth approximately $30.2 million.
• Analysts have issued varied ratings on Copart's stock, with HSBC maintaining a "buy" rating and setting a price target of $62.00, while other firms adjusted targets downwards.
• Insider trading activity included Director Thomas N. Tryforos selling 228,840 shares for over $10.8 million, highlighting significant stock movement among leadership.

Swedbank AB boosted its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 616,097 shares of the business services provider's stock after purchasing an additional 10,654 shares during the period. Swedbank AB owned about 0.06% of Copart worth $30,232,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of CPRT. Cloud Capital Management LLC purchased a new position in Copart in the first quarter valued at approximately $26,000. Sunbelt Securities Inc. bought a new position in shares of Copart in the fourth quarter worth $31,000. Accent Capital Management LLC bought a new position in shares of Copart in the first quarter worth $36,000. Financial Network Wealth Advisors LLC increased its holdings in shares of Copart by 152.6% in the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock worth $44,000 after purchasing an additional 473 shares during the period. Finally, SouthState Corp bought a new position in shares of Copart in the first quarter worth $45,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CPRT shares. HSBC set a $62.00 price target on shares of Copart and gave the stock a "buy" rating in a report on Thursday, September 4th. Robert W. Baird reduced their price objective on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. Stephens dropped their target price on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a report on Friday, September 5th. Hsbc Global Res upgraded shares of Copart from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 4th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Copart has an average rating of "Moderate Buy" and an average price target of $54.50.

Insider Buying and Selling

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the transaction, the chief executive officer owned 31,527 shares in the company, valued at $1,463,798.61. This represents a 43.31% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.68% of the company's stock.

Copart Stock Up 0.9%

Shares of CPRT opened at $45.85 on Friday. The company has a market capitalization of $44.33 billion, a P/E ratio of 28.66 and a beta of 1.03. The firm has a 50 day moving average of $47.22 and a 200 day moving average of $52.20. Copart, Inc. has a twelve month low of $45.05 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 earnings per share. On average, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

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